Disclosure of Dealings in Bright Smart Securities & Commodities Group Limited

Key Highlights for Investors

• Date of Disclosure: 27 February 2026
• Subject: Possible mandatory general offer relating to Bright Smart Securities & Commodities Group Limited.
• Disclosing Party: Morgan Stanley Capital Services LLC
• Nature of Dealings: Unsolicited client facilitation involving derivatives – both purchase and sale.
• Reference Securities: 14,000 units (purchase and sale).
• Reference Price: \$8.5197 per unit.
• Total Amount (per transaction): \$119,276.0001.
• Products Involved: Derivatives categorized as “other types of products”.
• Maturity/Closing Out Date: 30 September 2027.
• Resultant Balance: 0 units after the transactions.
• Connection to Offeror: Morgan Stanley Capital Services LLC is a Class (5) associate connected with the Offeror.
• Dealings for Own Account: Transactions were made for Morgan Stanley Capital Services LLC’s own account. The company is ultimately owned by Morgan Stanley.

Potential Impact and Price Sensitivity

The disclosure indicates that Morgan Stanley Capital Services LLC, a key associate connected with the Offeror in a possible mandatory general offer for Bright Smart Securities & Commodities Group Limited, engaged in significant dealings involving derivatives. These transactions were executed as unsolicited client facilitation—both as a purchase and a sale of 14,000 reference securities at a reference price of \$8.5197 each, with a total notional value of \$119,276.0001 per transaction.

Importantly, these transactions were closed out on the same day, resulting in a net zero balance. This suggests that the dealings may have been hedging or client-driven, rather than speculative proprietary trading by Morgan Stanley Capital Services LLC. However, the disclosure is notable due to the following factors:

• The involvement of an entity closely related to the Offeror in a potential takeover scenario could be seen as price sensitive, as it signals ongoing activity and interest around the shares of Bright Smart Securities & Commodities Group Limited.
• The use of derivatives with a maturity date extending to 30 September 2027 implies longer-term hedging or positioning activity related to the company’s equity.
• The fact that the resultant balance is zero after these transactions suggests these were closed out immediately, possibly to facilitate client needs or manage exposure ahead of potential corporate actions.

What Shareholders Should Know

This disclosure is significant because it involves a major financial institution (Morgan Stanley) acting in connection with a potential mandatory general offer. Such disclosures are closely watched by the market and may precede further corporate activity, including takeovers or changes in significant shareholdings.

Shareholders should be aware that any confirmation or announcement of a mandatory general offer could significantly impact the share price of Bright Smart Securities & Commodities Group Limited. Investors are advised to monitor future disclosures and be vigilant for any official statements from the company or the Takeovers Executive.

Summary Table of Transactions

Conclusion

While these transactions resulted in no net change in holdings, their disclosure in connection with a possible mandatory general offer could be price sensitive. Investors should continue to closely monitor developments, as further announcements related to the potential offer may have material implications for the share price of Bright Smart Securities & Commodities Group Limited.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult financial advisors before making any investment decisions. The writer and publisher accept no liability for actions taken based on this information.

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